Kylie Jenner now has $1 Billion in her account at the age of 21 and to surprise the world, even more, she has dethroned Mark Zuckerberg by becoming the youngest self-made billionaire in the history of mankind.
And wait, before you even have any doubts regarding her earnings, the reality star and social media sensation has made it all possible with the help of her own makeup brand, Kylie Cosmetics.
Before achieving this milestone, Jenner was famous for slaying with her style on every public appearance. The half-sister of Kim, Khloe and Kourtney Kardashian, was mostly in the news for showing off her raunchy side in the world of media. But that’s how the Kardashian family rolls (with a lot of money, style and controversy)
However, Kylie Cosmetics was indeed a masterstroke by Jenner, which has very little overhead expenses and huge profits that go straight into Kylie’s own accounts. Initially, she started selling her lip kits online. The supply chain later expanded to some pop shops but after signing an exclusive distribution deal with Ulta, her brand was all over the 1000 plus stores in more than 50 states across America. It was just a matter of time as Kylie Cosmetics sold $54.5 Million in the first six weeks of the deal and then even successfully achieved a revenue of $360 Million last year.
According to Forbes, Jenner’s company has a worth of $900 Million now. She did it all with an empire of seven full-time and five part-time employees. The manufacturing and packaging process was handled by Seed Beauty, a private-label producer in nearby Oxnard, California. Shopify was responsible for online sales while her mother, Kris, overlooks finance and PR in exchange for the 10% management fee she takes from all of her daughters.
Although Ulta shoppers went wild as the stock was finished within hours of release, it was a pretty sensible deal by Jenner to make her products sell to the ones who can’t buy it online, and looking at the numbers one can surely say that there are still plenty of such customers out there.
But it was Kylie’s own marketing tactics and the humongous outreach that she has with 175m followers, the products created a rage on social media and in the real world as well. She announces product launches and previews new Kylie Cosmetics shades on Snapchat, Facebook, Instagram and Twitter. Moreover, she even shows up at Ulta stores to greet customers, sign the lip kits and, of course, pose for selfies with her fans.
“I popped up at a few stores, I did my usual social media—I did what I usually do, and it just worked”
“It’s the power of social media,” Jenner says. “I had such a strong reach before I was able to start anything.”
Adding all the money from endorsements and appearances on cable TV like Keeping Up with the Kardashians, to Kylie Cosmetics, she now owns the title of world’s youngest self-made billionaire and is also ranked at the 2,057th spot in Forbes List of Billionaires.
Previously, Mark Zuckerberg climbed the feat with the invention of Facebook at the age of 23 but who knew that a female model would beat him by just using social media in the right way.